---

Kolbäck, Sweden. 2024

---

Following our acquisition of Infinion, a Luxembourg-based battery recycling company with
operations in Sweden, we are excited to launch a new European initiative: upcycling zinc and
manganese from end-of-life alkaline batteries. Located just outside Västerås City, our Kolbäck
facility spans 204,000 square feet and specialises in non-ferrous scrap trading and
automotive scrap processing.

We are initiating an alkaline battery recycling line with an ambitious mission: to recover zinc
and manganese from spent alkaline batteries and produce upcycled compounds that surpass
both primary industry standards and current recycled materials. These superior-performance
materials are intended for use in next-generation energy storage solutions, including zinc-air
and zinc-ion batteries.

Our research programme will investigate novel processes for the production of battery-active
materials from black mass, including ionic liquid (ionometallurgy using ionic liquids and
deep eutectic solvents) and thermal processing of metal-organic frameworks, developed
in-house at Ever Resource. Our strategy includes production of new nanomaterials, sustainable
and green chemical processes for the production of upcycled zinc and manganese compounds,
and new battery architectures for next-generation zinc-based energy storage.

---

Bologna, Italy. 2023

---

Our team has acquired a former lead-acid battery manufacturing facility based in Bologna,
Italy. This strategic acquisition opens up new avenues, as we explore the potential repurposing of
the plant into a cutting-edge battery recycling facility. At this location, we will commence
production of our advanced, patent-protected upcycled leady-oxide materials for battery trials.

The leady-oxide produced in Bologna will be offered for resale to battery manufacturers,
promising to enhance (due to upcycling) battery energy density by 40%. Simultaneously, we will
reduce the carbon footprint of the recycling process by about 85%, and cut waste by at least 90%.

We anticipate that the plant, at its peak, will handle up to 25,000 tonnes per year of lead batteries,
repurposing over 99% of materials in waste batteries and cutting energy use by at least 50%.

---

Seoul, South Korea. 2021-2023

---

In partnership with a Korean business, our team has co-developed a cutting-edge electrodialysis
process for extracting battery-grade lithium salt from various lithium battery types, including LFP,
NMC, and non-rechargeable chemistries. This development is part of a broader system aimed at
achieving a minimum of 97% material recovery from electric vehicle batteries.

We are also pioneering a green chemical method for extracting critical battery metals like
cobalt, manganese, and nickel without resorting to acid stripping or hydrocarbon extractions –
promising the lowest carbon and waste footprints in the industry.

---

Cambridge, UK. 2021-2022

---

Our award winning technology (Cambridge Independent Cleantech Company of the Year Award,
2022), dubbed Regenerate®, received funding from Innovate UK. Through the ‘Sustainable
Innovation Fund’ we investigated the upcycling potential of our lead-acid battery recycling process.

Our solution not only holds the promise of game-changing environmental credentials, reducing
the carbon footprint of one of the world’s most polluting industries by 85% and cutting waste
by more than 90%, but also introduces game-changing enhancements. Indeed, Regenerate
produces upcycled products which outperforms the primary industry’s competing materials.

We developed the first at-scale process for synthesis of nanostructured active materials for
lead batteries from waste. We successfully optimised the crystal phase of the oxide, leading to
a new patent family. The optimisation allows us to not only enhance energy density by up to
40%, but to also fine-tune the battery for more power, longer cycling, deeper discharge, and more.